Uticaj strukture izvora finansiranja na performanse poslovanja preduzeća
The Impact of the Financing Structure on Corporate Business Performance

Summary/Abstract: This paper examines the impact of the capital structure of enterprises on their business performance. The study includes a total of 510 companies listed on the Banja Luka Stock Exchange over the period from 2022 to 2024. Trend analysis of the capital structure primarily indicates that companies, on average, exhibit a higher level of leverage than the traditional level. In addition, descriptive analysis shows that companies reporting negative financial results have a higher degree of indebtedness as well as a higher share of long-term external financing sources. The results of the regression analysis indicate that corporate profitability is negatively affected by leverage and the share of long-term external financing sources, while liquidity has a positive effect on profitability. The findings of this research may be useful for assessing the capital structure and other factors influencing corporate profitability in order to support informed business decisions aimed at achieving future economic benefits.

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